10Y yields briefly poked above the Mar 2021 highs, adding to the drama surrounding next week’s CPI report.
Meanwhile, December NFP came in at +199K, less than half consensus, while the unemployment rate dipped to 3.9% and wages continued to strengthen. Remember, this was all pre-omicron.
Futures were not amused. While ES held its 50-DMA yet again, we get the sense it won’t be for long. 
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